Azeri Light continues to rise in price and approaches $105
The price of one barrel of Azerbaijani Azeri Light oil on the world market rose by $3.02, or 2.96%, to $104.98.
A source in the oil market told Report about this.
Following the results of trading, the price of November futures for Brent crude was $101.69.
The price of Azerbaijani oil in Turkey's Ceyhan under FOB terms rose by $2.98, or 3%, to $102.19 per barrel.
Azerbaijan's state budget for this year is based on an oil price of $65.
Recall that the minimum price for Azeri Light oil was recorded on April 21, 2020 ($15.81), and the maximum in July 2008 ($149.66).
In Azerbaijan, Azeri Light oil is produced under the agreement on the development of the Azeri-Chirag-Gunashli (ACG) block of fields. The share of the State Oil Company (SOCAR) in the contract is 35.3%.
